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The Monetary Authority of Singapore (MAS) has announced the successful completion of its Quantum Key Distribution (QKD) sandbox. Conducted in collaboration with several banks and technology partners, it explored how QKD could strengthen the cybersecurity foundations of Singapore’s financial system.
The shift toward digitised payments brings heightened concerns about cybersecurity, fraud, and regulatory compliance. This was enabled via the Hong Kong Monetary Authority’s Interbank Account Data Sharing (IADS) initiative. This disparity suggests a pressing need to enhance cybersecurity across the region.
As cybercriminals continue to evolve their tactics, businesses must prioritize strong cybersecurity measures to mitigate these risks. Moreover, compliance demonstrates your commitment to cybersecurity, boosting customer confidence in your business. This is where the PCI DSS comes into play.
By Tom Groenfeldt Follow Author Share Save Comment Innovation Enterprise Tech Real-Time Payments Are Soaring In The U.S. Follow Author Jul 17, 2025, 03:08pm EDT Share Save Comment Close up of network data flowing on black background. By Tom Groenfeldt , Contributor. Forbes contributors publish independent expert analyses and insights.
Safeguarding customer funds The Financial Conduct Authority (FCA) has proposed significant changes to the safeguarding regime for payments and e-money firms. Firms should assess the risks of stablecoin transactions, including volatility, cybersecurity threats, and regulatory changes.
This laid the foundation for a centralized monetary authority and future oversight of payment systems. The development of an Online Dispute Resolution (ODR) system for payment transactions and emphasis on cybersecurity for critical payment infrastructure (as outlined in DORA for Europe, India has its own evolving frameworks).
The Strategic Imperative Tokenisation isn’t just a cybersecurity tactic — it’s a smarter, more resilient way to handle business payment data in a landscape where breaches are inevitable and reputational risk is high. External This content is provided by an external author without editing by Finextra.
The Infocomm Media Development Authority ( IMDA ) is stepping up efforts to help local businesses adopt emerging technologies. It has announced new partnerships to expand the use of generative AI (Gen AI), cloud infrastructure, and cybersecurity tools among small and medium-sized enterprises (SMEs).
Strengthening cybersecurity protocols Cyber threats are real. External This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. It expresses the views and opinions of the author. Your digital payment system must support automated compliance workflows.
Moreover to the previous point: market participants must develop a clear system of operational reporting of incidents regarding digital resilience violations to the authorities; Testing and resilience. Incident reporting. With recurrent checks of counterparties and providers, as well as ongoing audits; Information exchange.
Appoint a lead authority : To address market coordination failures, the Government should consider appointing a responsible body to oversee implementation and governance.
trillion in 2024, according to Cybersecurity Ventures, banking apps are adopting robust protections. External This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. It expresses the views and opinions of the author.
Common use cases include fraud detection, anti-money laundering, cybersecurity and back-office automation. Around 41 per cent of firms report using AI to streamline internal processes, while 37 per cent cite cybersecurity as a primary application, and 33 per cent focus on improving fraud detection.
The Monetary Authority of Singapore (MAS) recently released its latest annual report, and within its pages are fintech and digital finance initiatives that will shape the country’s (and in certain moves, the region’s) financial future. This provides affected scam victims with payouts when lapses occur.
The Dubai Financial Services Authority (DFSA), the independent regulator of the Dubai International Financial Centre (DIFC), has warned of the increasing frequency and sophistication of cyberattacks, driven by AI and automation tools, in a new report.
According to a BoE/FCA survey, the most common AI use cases already in deployment at UK firms included optimization of internal processes (41% of firms), cybersecurity enhancement (37%) and fraud detection (33%). External This content is provided by an external author without editing by Finextra.
Regulators need both the resources and the authority to take meaningful action against companies that turn a blind eye to fraudulent activities. Too often, we see well-intentioned legislation being undermined by weak implementation and lack of accountability.
Cybersecurity is a persistent concern. As fintechs grow, they attract greater scrutiny from authorities. Risks and Challenges Photo by Micah Boerma on Pexels.com Despite impressive growth, fintech is not without risk. Startups and incumbents alike face strategic, operational, and reputational challenges.
Many businesses find PCI compliance confusing and frustrating, and there are times when it feels like you need a degree in cybersecurity just to understand what the standard wants you to do. The change is the addition of the Customized Approach, targeted toward larger businesses that have in-house cybersecurity teams.
On Monday 9 June, the Financial Conduct Authority (FCA) unveiled its ‘supercharged sandbox’, which will enable banks and fintechs to experiment safely with AI to help drive innovation. ” Encouraging operational risk elsewhere?
In response, CyberUpgrade DORA Self-Assessment Tool is free, anonymized, and helps everyone from technical cybersecurity and compliance specialists to executives and managers quickly assess their DORA readiness. ” CyberUpgrade made its Finovate debut at FinovateEurope 2025 in London.
Ben Zhou (@benbybit) February 21, 2025 Two days after the hack took place, Bybit put out an official statement highlighting its efforts to reassure consumers while also noting how it is working with regulatory bodies and authorities to address the hack.
These will range from central bank and regulatory authorities, C-suite executives from banks and financial institutions, heads of digital innovation, payments, risk, founders of fintech startups and insurtech as well as investors, accelerators and digital strategy advisors.
Several Saudi banks and fintechs are already live on NayaOne’s sandbox environment, testing solutions in areas like embedded finance, cybersecurity, SME lending journeys, cross-border remittance, and AI adoption. “At NayaOne, we look forward to helping other UK businesses who are interested in operating in KSA.”
Their team has begun experimenting with agents to support technical assessment analysts on the cybersecurity team. External This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. It expresses the views and opinions of the author.
Inverid’s client list spans both public and private sectors, including governments, financial institutions, and border control authorities. .” First launched in 2014, ReadID became the world’s first NFC-based mobile identity verification solution, providing a high level of assurance and reliability for sectors requiring identity checks.
Subscribe To Newsletters The Clearing House Sees Growth In Its Real-Time Payments (RTP) By Tom Groenfeldt Follow Author Share Save Comment Innovation Enterprise Tech The Clearing House Sees Growth In Its Real-Time Payments (RTP) By Tom Groenfeldt , Contributor. Forbes contributors publish independent expert analyses and insights.
The transition, which took place on July 16, transfers management authority from the State Capital Investment Corporation (SCIC) to the Ministry. “The Ministry’s assumption of FPT Telecom is part of a strategy to enhance cybersecurity oversight and ensure data sovereignty,” a Ministry representative stated.
Together, the podcast team explore how evolving fraud tactics are only going to increase and that cybersecurity teams, both in the crypto sector and beyond, must utilise the latest technology available to combat fraudsters. The conversation kicked off this week exploring the FCA’s AI sandbox.
The stablecoin bill itself introduces a framework for the issuance and regulation of dollar-pegged digital tokens, requiring that they be backed by short-term, liquid reserves overseen by state or federal authorities. The intention is to clarify how stablecoins may be used for payments and to bring them within a formal regulatory perimeter.
You’ve worked in everything from banking to cybersecurity. In 2019, George shifted to the tech space, working with Altaro Software and later Hornetsecurity, where he focused on digital and affiliate marketing in the backup and cybersecurity solutions sector.
FCA mentioned that similar offerings are already available around the world, and adopting this would mean that cETNs could be sold to individual consumers rather than just professional investors.
Cybersecurity has long emphasized the importance of security awareness campaigns, yet unsafe behaviors persist. In cybersecurity, a similar situation would be a new polymorphic malware or a zero-day attack that slips past detection tools. External This content is provided by an external author without editing by Finextra.
It expresses the views and opinions of the author. 0 1 hour Be the first to comment External This content is provided by an external author without editing by Finextra. 0 1 hour Be the first to comment External This content is provided by an external author without editing by Finextra.
Cybersecurity becomes even more paramount. External This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. It expresses the views and opinions of the author. There’s no “safe downtime” to fend off attacks or patch systems quietly.
Improving Office Safety Through Cybersecurity Awareness Training Technology alone cannot secure a family office. Employees often play a critical role in preventing breaches, making cybersecurity awareness an essential part of overall protection. External This content is provided by an external author without editing by Finextra.
But securing full bank authorization would enable the firm to expand its offerings to its customers across Europe. Cybersecurity and IT services provider Intersys launched in India. The company, which is headquartered in Paris, currently holds a payment institution license.
Cybersecurity and Regulatory Challenges Microsoft’s Q4 call addressed recent cybersecurity incidents, including a SharePoint cyberattack affecting Fermilab. External This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
Ensuring data privacy and protection is paramount, requiring continuous investment in cybersecurity measures and regulatory compliance initiatives. External This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
Cybersecurity matters a lot today, and it touches everyone around the globe. That’s where multilingual cybersecurity comes into play – it breaks down language barriers so everyone can understand how to protect themselves. Now, let’s explore how to make cybersecurity work for everyone! Then, check everything again.
The incident also raises concerns about the vulnerability of chip making companies to cyber-attacks and the need for robust cybersecurity measures. That is why companies such as AMD must remain vigilant and invest in robust cybersecurity measures to protect their sensitive data and maintain the trust of their customers and employees.
These tools even have their own name, RegTech, a term coined by the UKs Financial Conduct Authority (FCA) in 2015. And with millions of transactions daily covered by the regulations, financial institutions have long looked to automation to stay safe and compliant. Naturally, the topic is covered at every major fintech and banking event.
Cybersecurity matters a lot today, and it touches everyone around the globe. That’s where multilingual cybersecurity comes into play – it breaks down language barriers so everyone can understand how to protect themselves. Now, let’s explore how to make cybersecurity work for everyone! Then, check everything again.
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